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Europe Market Check

European equities advanced the most since July as cyclical industries rose amid fading fears over trade.

Asian Markets

Japan’s Topix index gained 0.5 percent.

Australia’s S&P/ASX 200 Index gained 0.2 percent.

South Korea’s Kospi index added 0.4 percent.

Futures on Hong Kong’s Hang Seng Index advanced 0.7 percent.

FTSE China A50 Index futures rose 0.4 percent.

Futures on the S&P 500 Index held steady.

The MSCI Emerging Market Index is on course for a second week of gains.

Commodity Cues

The Bloomberg Commodity Index rose 0.6 percent Thursday.

West Texas Intermediate crude fell 0.1 percent to $70.25 a barrel.

LME copper rose 1 percent to $6,144 a metric tonne.

Gold was flat at $1,207.69 an ounce.

Shanghai Exchange

Steel traded higher; up 0.1 percent.

Aluminium traded higher for third day; up 0.8 percent.

Zinc traded higher for fourth day; up 0.1 percent.

Copper traded higher; up 0.1 percent.

Rubber traded higher for third session; up 0.8 percent.

Indian ADRs

Stocks To Watch

Yes Bank received RBI’s letter stating that Rana Kapoor can continue to be the bank’s managing director and CEO till Jan. 31, 2019. The board will meet on Sept. 25 to discuss future course of action.

ICICI Bank to consider raising offshore raising of funds via debt instruments on Sept. 24. SEBI also clarified that the bank and Chanda Kochhar have filed replies to the show-cause notices but they have not received any settlement application from the bank or any other related entity.

Jet Airways’books are being inspected by the Income Tax Department for alleged falsification of accounts and suspicious transactions. Inspection started across four premises of the airlines across Mumbai and Delhi. As part of the survey operations, tax sleuths will only visit the business premises of a firm and check their books of accounts. (Press Trust of India)

ITC Hotels acquired Park Hyatt Goa Resort and Spa. The company said that this acquisition is a part of auction held by Industrial Finance Corporation of India for Rs 541 crore and upheld by the Supreme Court in its March 19 judgement, according to a PTI report.

Manali Petrochemicals started the supply of Notedome Products from Sept. 19.

CEAT launched high speed range of CEAT SecuraDrive tyres. These products will cater to the premium sedan segment of cars in India.

NBCC secured business of Rs 921.67 crore for the month of August.

Life Healthcare South Africa sold 49.7 percent stake in Max Healthcare to Radiant Life. Max Healthcare is a 50 percent subsidiary of Max India.

Karnataka State Pollution Board said that the Bengaluru units of Graphite India should be shut down, Times of India reported. The company clarified to the news and said that its stack emissions are well within prescribed norms and it is a law abiding entity.

Australian Competition and Consumer Commission announced clearance of the merger of Arrow Pharmaceuticals, a subsidiary of Strides Pharma Science and Apotex Australia.

Bharti Airtel, Jio said to be among bidders for Aircel assets, according to Mint report.

Clariant Chemicals (India) to divest plastics and coatings business by 2020 because of parent company’s stated intent to do so globally. Implications of this strategic decision will be given in next few months.

Aditya Birla Finance filed an arbitration before High Court of Delhi against the IL&FS Transportation Networks. The court has passed an interim order injuncting company from transferring or creating third party interest in their unencumbered assets till the next date of hearing fixed on Dec. 07.

Gravita expanded its production capacity of Andhra Pradesh plant by adding new washing line and PPCP Granules extrusion lines with annual capacity or 4,800 MTPA.